Larry Ellison Step Aside as Oracle CEO

Oracle Co-Founder Larry Ellison, hands the CEO rein to Mark Hurd and Safra Catz, current presidents at Oracle since 2010. Mr. Ellison, 70 will be Chairman and Chief Technology Officer of Oracle.

“Safra and Mark will now report to the Oracle Board rather than to me,” Mr. Ellison said in a press release. “All the other reporting relationships will remain unchanged. The three of us have been working well together for the last several years, and we plan to continue working together for the foreseeable future. Keeping this management team in place has always been a top priority of mine.”

Mr. Ellison has been the only CEO in the history of Oracle, which he co-founded in 1977. He is one of the last founding CEOs of Silicon Valley’s.